The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-12-18

8. Value of property, including Improvement.
y value o. mills, manufactures aud other
''"'"f po'po'"'
necuon y. Assessor shall assess real es-
I'ee is ioliows:
Shall prepare complete list Of property from
,cnsduie, giying, name Of owner; description OF
Der Of lot. descrsntinn sud as.ss' ;, ya \ to"n' NUM-
cooio,, r..
no f%oilnD,s. i"''"" p'oP'i9 w "''0''o'
,'
o,Ser n ca1nar r.pGE ~ bank inshrahee company or
p Stock OF merchandise etc. Int yaiue Of same
shall not be Included In tax values Assessor shall
I rarhed int Oh same 70 county court clerk 10 De re
& Merchandise. etc, sold nj auction.
4 Note, negotiable paper, accounts on solvent
Person ~ hnolhalns eash on hHhd or invested IN
s, All bonds, stocks not exempted by the laws OF
United states.
= Wstche s'o Io,, npss' ny mcIu \, cnsn vs,ue' a
s. Carriages or other vehicles al pleasure or
prof;
,n -" aacnihety, sMam 'ooatS' Tools ana implements
10. All other personal property.
Il Amount OF income from United States md
o'ne' pohus not u'Aeu M Vhioiem'
Section 3. Capital oil banks or other cor
porations shall not DO taxed If organized
under authority OF State or United States,
but stock and ~bondholders shall be taxed
at market value OF shares OF stocks and
bonds, and shall be included in valuation
OF personal property in assessmcntof State,
county or municipal, at the place where
said bank or corporation Is created Except
otherwise provided by lawl no matter
where said stock or bondholders are To-
Gated; and all banks and corporations in
addition shall be liable Tor taxes on any
property, funds, etc, owned by them, not
included in foregoing provisions; and
property in shares Of stocks OF companies
organized under laws OF Tennessee, and
hrms engaged in manufacturing articles ot
produce OF the State exclusively, shall be
assessed as on property, etc.
Section 0. Officers OF banks or other cor
porations, doing business under laws OF
state, must report stocks and bonds, de-
clare on oath before assessor amount OF
capital invested, bonded indebtedness.
Each 500 OF such capital and bonded in
debtcdness which shall be held as an in
dividual share OF such banks, etc, and
such shares are declared to be personal
property. Said officer shall declare on
oath, II he have partners, the number OF
shares held by them, and such shares
shall be included in the valuation Of his
taxable property and said officer. nresi-
dent or nanare shall nav tLe same and
make said amount A charge i'm his account
with partners. etc.
Section Ia. There shall be kent nj all
times in the office Of the bank or other
CORPORATION n list Of names and residences
OF all stockholdcrs. and number OF shares
or bonds held by each. and sucb list hal
be subject 10 the inspection OF the officer
authorized 10 ASSESS taxes.
Section II. As 10 tho shares Of non.resi.
dent Stockholders. the revenue collector
shall collect tho tax assessed for state
county and municipal PURPOSES by attach,
ment proceedings. which shall remain n
lien on said stocks or bonds until maid.
Section 10. n sball no the dnly III nresi.
dents or manaping officers Of said hanks or
other Conversations 10 retain an much of
dividend or Interest as NAV bo necessary
To- nav any taxes dino y said non.residenis
Section I3. The privileges and fran.
chises of savings hanks ane liable 10 taxa.
ton ms personal poperty TO an amount ma,
exceeding the pross sum OF their surplus.
earned and In possession Of said hanks
and the proparty of said hanks hall h.
liable 10 %ssizire and sale for pavmen, oI
such taxes. assessed Tor said PRIVILEGES and
franchises.
Section IA. This net shall not operate a,
10 release from taxation any compsn
whose charter exempts stock and shares
thereof from taxation, and in all cases
where such stock is exempted, such com.
pany shall be assessed in such way ms may
bo lawful-shall DO assessed and levied Al
q rate uniform with the rate levied on
other taxable property, upon tho capital
stock Of said corporations, the value Of
which capital stock shall be fixed aud no.
luthed "A Ocing 10 inc aggregate market
value oil tho shares OF stock IN said corpo'
ration. includinp the net sumlus.
Hor.ou ~ sales
shall be assessed by the aggregate amount
OF sales for the period engapdin business,
al as.'ai,a -. Iii 49,
certaincd and oneihirI Of ssid smoun, NJ
sales shall bo rturncd Tor taxation.
Section Id. Merchants shall nav nm nj
yalor,tn taxu pon capital invested equal n
that levied ON taxable property. hut mi.
shall not interfere with the priyileye taxc.
upon the yocations declared IN be nTivi.
} lcgcs.
SECTION II. Merchants shall take nm,
llc,nse. which shall he registered in M
Office Of the clerk of the circuit court
Penalty for doing business without ljcense
fine moi les than 500 for each oiIense
and uhall be prosecuted for each day',
violation of the Law,
Section rs. Merchants shall execu,. ,
bond with GOOD security In snm oI an ooo
Section II. Merchants must rnew n
cnso annually.
Section 20. Al expiraiion NJ tu,o mon,h,
from date Of bond. mcrhan,s must m,
with comfy clcrk a sxorn abatement
showing